GameStop mania goes global as retail traders gang up on shorts

The GameStop effect is also playing out in different ways. Day traders in India have been piling into the stock, which accounted for about 15% of volume on one popular platform allowing locals to bet on United States equities.

SYDNEY: The market drama surrounding GameStop Corp is spreading ever further beyond Wall Street, whipsawing stocks from Amsterdam to Sydney as traders race to bet on where the flood of retail money might head next.

Heavily shorted companies have emerged as the biggest targets, after an epic short squeeze in GameStop helped drive up the stock more than 400% this week. In Europe, short-seller favourites including Unibail-Rodamco-Westfield jumped 20% or more.